Trump Postpones Strikes on Iranian Power Plants, Cites 'Productive' Negotiations

President Trump announced on March 23, 2026 that the US military would postpone planned strikes against Iranian power plants and energy infrastructure for five days, citing 'productive' diplomacy. Trump had previously issued a 48-hour ultimatum demanding Iran reopen the Strait of Hormuz or face strikes on its energy grid. Iran denied any direct dialogue with Washington, calling Trump's move a stall tactic to lower energy prices and buy time. Markets surged and oil prices dropped on the announcement. Iran's foreign ministry stated there had been no dialogue and that the US was 'buying time.'